The Canadian is in the black. Data on the wholesale sales in Canada
The Canadian dollar maintains a strong position against the US dollar, despite some decline in oil prices. Some optimism to the Canadian currency was added by the data on wholesale sales in Canada, which turned out to be higher than the forecast of analysts.
- According to the published data, the volume of wholesale sales increased by 0.7% in November, exceeding the forecast of analysts at the level of 0.6%.
- The main pressure on the USD/CAD pair during today’s trading is exerted by the weak position of the US dollar, the US dollar index at the moment remains below the zero mark, losing about -0.21% of the positions.
Technical analysis: The pair USD/CAD maintains a downtrend in the short term. The main support levels are considered at 1,2400, 1,2370. The resistance levels are 1,2510,1,2555.
Fig. USD/CAD. The current price is $ 1.2464.
Alexander Sivtsov